Intrinsic wealth network managing director Stephen Fryett is set to leave the business the business in mid-2019.
Fryett has been with Intrinsic since its formation in 2005, initially as network sales director before becoming managing director of the wealth network in 2016.
Fryett overlooked investment and pension advisers at the wealth network.
The company said Fryett is leaving to “seek new opportunities.” His position will be transferred to Intrinsic Group managing director Stephen Gazard, with the handover period beginning immediately.
Fryett says: “I have really enjoyed the last 13 years at Intrinsic, working with such a strong management team and am immensely proud of the business we have today.
“In over 30 years in financial services, I’ve had the opportunity to work with hundreds of advisory firms and those in Intrinsic are among the very best. It has also been incredibly rewarding working closely with these firms to constantly evolve our proposition, ensuring it remains relevant to advisers and delivers excellent outcomes to their clients.
“Following on from the acquisition of Intrinsic by Old Mutual Wealth (now Quilter) in 2014 and the subsequent listing of Quilter on the London and Johannesburg stock exchanges earlier this year, it is a good time for me to take time out to seek new opportunities. I know I leave the next chapter of Intrinsic’s growth story in safe hands.”
Intrinsic chief executive Andy Thompson says: “Stephen Fryett has been instrumental to our growth from day one and has been a key member of our executive team and I would like to personally thank him for his immense contribution to Intrinsic’s success.
“We brought Stephen Gazard into Intrinsic just under 18 months ago because of his strong distribution background and his passion for our profession, being an adviser at heart. With his experience in the industry and Intrinsic he’s is ideally placed to lead our wealth network.”
Intrinsic has grown from around 300 advisers in early 2006 to become one of the largest advice businesses in the UK, with over 3,500 advisers.